METHODOLOGICAL APPROACH TO A COMPREHENSIVE ASSESSMENT AND ANALYSIS OF THE COMPETITIVENESS OF COUNTRIES IN THE CONTEXT OF GLOBAL CHALLENGES

Abstract

The large number of existing ratings and the diversity of methods for assessing the competitiveness of countries make it difficult to choose a rating for strategic management decisions, which should be used to compare results and determine the country's generalized position in the global context. Without a unified approach to the assessment, there is a risk of erroneous analytical conclusions, which can lead to inefficient use of resources and the formation of an incorrect development strategy. Therefore, the article proposes a methodological approach to the comprehensive assessment and analysis of the country's competitiveness, which involves the passage of successive stages within two blocks - assessment and analysis. It allows for a systematic and comprehensive assessment and analysis of the country's competitiveness based on existing international rankings, and is aimed at adapting countries to global challenges and creating effective strategies that will promote sustainable economic growth, social stability and environmental sustainability of the country. A system of indicators of the country's competitiveness has been formed, which includes ratings or indices that are relevant to the global challenges of today, namely the World Competitiveness Ranking, the World Digital Competitiveness Ranking, the Business Readiness Ranking, the Global Talent Competitiveness Index, the Global Innovation Index, the Corruption Perceptions Index, the Business Confidence Index, the Global Sustainable Competitiveness Index, the Index of Economic Freedom, and the Democracy Index. The proposed system of indicators provides for the harmonization of all its components to a single scale and allows a country to compare its position with different comparison bases (another country or countries, an integration association or region of which the country is a part, the global average). The results of the indicators brought to a single scale of measurement are displayed in the form of a competitiveness radar, demonstrating the strengths and weaknesses of the economy, which contributes to the adoption of sound strategic decisions to improve the country's competitive position.